PayPal is slowly coming back into online casino transactions

PayPal, the giant, leading online transactions company is slowly coming back into online casinos after cutting a deal with 32Red Casino. Hopefully it won’t be their last.

PayPal, owned by e-bay, is a well known company for online transactions with more than 100 million customers in more than 50 countries around the world. What makes PayPal so successful is the fact that anyone with an email address can use it in a simple and secure manner. PayPal uses as an intermediary between the user’s bank account and his PayPal account where the user funds his PayPal account straight from his bank account and use these funds for purchasing goods online and in our case deposit in to the user’s casino account. When a player asks to withdrawal, funds are being transferred into the user’s PayPal account and from there he can choose whether to keep it for other online transactions or send them back to his bank account. PayPal is the ultimate online payment method.

Being said, PayPal didn’t want to get into trouble with illegal issues and decided, back in 2002 to stop processing online casino transactions. Retrospectively, this decision was very smart after the passing of the USA the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006.

On 2005 UK has regulated online gambling (UK regulation act) and became one of the leading online gambling markets. This act brought PayPal UK to decide taking online gambling transactions once again starting with several online sportsbook (bookies) such as Ladbrokes, Betfair and Bwin. Unfortunately only players from the UK and several other countries (Austria, Denmark, Finland, Ireland, Italy, Portugal and Sweden) are allowed to use PayPal’s services.

PayPal is available also at some online casinos (again only for UK and other European players). How come you ask? Well, because of a loophole in the UK low that allows sportsbooks to accept PayPal, a player can then transfer funds from his sportsbook account into his casino account.

The last and the biggest online casino to take PayPal is 32Red. This is very important because although US players still can’t use PayPal maybe is shows they are slowly coming back into online casinos. Combine this with the recent positive tailwind coming from the US government regarding legislation of online gambling and there you have excellent news and an important step for our industry.

In the mean time US players can continue depositing using other, not bad at all eWallets such as UseMywaller, EwalleteXpress, Western Union and off course all major credit cards (visa, master card, AMEX and Diners). All of these methods and other excellent promotions can be found here at Golden Palace Casino.